Jolene Lau Marshall Sells 3,205 Shares of Smartsheet Inc (NYSE:SMAR) Stock

Smartsheet Inc (NYSE:SMAR) insider Jolene Lau Marshall sold 3,205 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $55.92, for a total transaction of $179,223.60. Following the transaction, the insider now directly owns 18,695 shares in the company, valued at $1,045,424.40. This trade represents a 14.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Jolene Lau Marshall also recently made the following trade(s):

• On Tuesday, October 1st, Jolene Lau Marshall sold 3,571 shares of Smartsheet stock. The stock was sold at an average price of $55.37, for a total value of $197,726.27.
• On Friday, September 13th, Jolene Lau Marshall sold 3,571 shares of Smartsheet stock. The shares were sold at an average price of $50.59, for a total value of $180,656.89.

Smartsheet Stock Up 0.1 %

Shares of Smartsheet stock opened at $55.93 on Thursday. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55. The stock has a fifty day moving average price of $55.08 and a 200-day moving average price of $48.22.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.15. The business had revenue of $276.41 million during the quarter, compared to the consensus estimate of $274.23 million. Smartsheet had a negative net margin of 4.07% and a negative return on equity of 4.29%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.23) earnings per share. As a group, equities research analysts expect that Smartsheet Inc will post -0.05 EPS for the current year.

Smartsheet declared that its board has approved a stock repurchase plan on Thursday, September 5th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Smartsheet

Several institutional investors and hedge funds have recently bought and sold shares of SMAR. International Assets Investment Management LLC bought a new position in shares of Smartsheet during the 2nd quarter worth $25,000. Brooklyn Investment Group purchased a new position in shares of Smartsheet in the third quarter valued at $28,000. Versant Capital Management Inc bought a new position in Smartsheet in the 2nd quarter worth about $31,000. Raleigh Capital Management Inc. purchased a new stake in Smartsheet in the 3rd quarter worth approximately $31,000. Finally, Waldron Private Wealth LLC bought a new stake in Smartsheet during the third quarter valued at $33,000. 90.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SMAR has been the subject of several research reports. William Blair reissued a “market perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. Morgan Stanley lifted their price objective on shares of Smartsheet from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Citigroup restated a “neutral” rating and issued a $56.50 target price (down previously from $63.00) on shares of Smartsheet in a report on Friday, September 27th. Guggenheim cut shares of Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $56.50 price objective (down from $59.00) on shares of Smartsheet in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.82.

Smartsheet Company Profile

Smartsheet, Inc engages in managing and automating collaborative work. Its platform provides solutions that eliminate the obstacles to capturing information, including a familiar and intuitive spreadsheet interface as well as easily customizable forms. The company was founded by W. Eric Browne, Maria Colacurcio, John D.